Today’s home buyers are in a unique position to combine the benefits of a fixed rate mortgage with the savings opportunities of an Adjustable Rate Mortgage (ARM). Our “Hybrid ARM” solutions give you the best of both worlds.
An ARM offers a fixed rate term followed by regular rate adjustment intervals thereafter.
These loans are often represented by fractions, such as 10/1. The first number represents the number of years the interest rate is fixed. The second number indicates the adjustment interval, or how often the interest rate will change.
For example, in a 7/1 loan, the fixed period is 7 years. After that time, the interest rate adjusts every 1 year for the life of the loan.
There are several potential advantages of adjustable rate mortgages, including:
Find out if an Adjustable Rate Mortgage is right for you.